2357 Huguenard Dr 6,480 SF Office Building Lexington, KY 40503 $2,062,744 CAD ($318.32 CAD/SF) 8.38% Cap Rate

FOR SALE
**2357 Huguenard Lane – Lexington, KY**
**Stabilized Office Investment | 8.2% Cap Rate | Value-Add Expansion Opportunity**
Property Overview
Price: $1,499,000
Property Type: Professional Office Building
Leased Square Footage: 6,840 SF
Additional Basement Space: ~3,420 SF
Total Building Size: ~10,260 SF Potential
Occupancy: 100% Leased (Main Floors) - single tenant, multi-state healthcare tenant in high demand industry
Investment Highlights
• Stabilized cash-flowing investment property
• Annual rent: $125,582.40
• Approx. 8.3% cap rate at asking price
• Tenant in Year 2 of a 5-year lease (45 months left)
• 2% annual rent escalations
• Tenant responsible for CAM (taxes and insurance)
• Tenant also responsible for lawncare, snow removal, and minor repairs
• Low landlord management requirements
• Additional 3,420 SF basement level offers future value-add expansion opportunity
Financial Summary
| Item Amount
| Purchase Price $1,499,000
| Annual Gross Rent $125,582
| Cap Rate ~8.2%
Lease includes **2% annual rent increases**, providing built-in income growth.
Lease Details
Multi-state healthcare tenant currently occupies the building under a **5-year lease**, currently in **Year 2**. Lease runs through January 31, 2030 with options to renew with continued escalators.
Lease rate:
$18.36/SF total rent
• $15.36 Base Rent
• $3 CAM (taxes & insurance)
Tenant responsibilities include:
* CAM expenses
* Lawncare
* Snow removal
* Minor maintenance
This structure creates predictable income with minimal landlord responsibilities.
Value-Add Opportunity
The property includes an **unfinished basement level of approximately 3,420 SF**, which is roughly the same size as the upper floors.
This space offers potential for **future expansion or additional rental income**.
The current tenant holds a **Right of First Refusal (FROR)** on this space under the lease. If exercised, the tenant would take the space in **white-box condition prior to occupancy.**
This presents an opportunity for investors to increase future revenue through additional rentable square footage.
Location
The property is located in **Lexington, Kentucky**, one of the fastest growing economic centers in the region. The area benefits from strong demographics, a growing healthcare and professional services sector, and convenient access to major roadways and commercial corridors.
Investment Opportunity
This property provides investors with:
• Immediate stabilized income
• Built-in rent escalations
• Minimal management responsibilities
• Future expansion potential through additional square footage
Ideal for:
• Private investors
• Professional / medical office investors
• 1031 exchange buyers
• Passive income investors
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Sale Details
**For Sale By Owner**
Buyer brokers welcome.
Contact Information
For additional information, financials, and lease documentation:
Brett Blevins
Owner
Email: blevins.brett@gmail.com
***Seller has 2 additional commercial properties that could be rolled into a larger 1031 exchange.
One building is leased by same healthcare tenant at $1500/month rent (same length as above), tenant pays all utilities and upkeep. Asking $170,000
Other building is mixed-use (3 tenants) $5250/month rental income, owner pays utilities that average $760 a month. Asking $499,000.